Explanation:
Because trademarks have an unlimited effective life of 4 million dollars, the regulation is not valid.
Goodwill and immaterial properties are not amortized but are checked for damage annually for infinite useful lives.
The copyright worth $6 million for five years is the only inviolable thing you can amortize.
The gross amortization cost in relation to these things in the income statement of Burger Mania for the first year ending December 31 would amount to $800,000.
Answer:
$11881.4
Explanation:
Given :
Future value, FV = $15,000
Interest rate, r = 6%
Period, n = 4 years
Using the Present Value formula :
PV = FV(1 ÷ (1 + r)^n)
15000(1 ÷ (1 + r)^n)
15000(1 ÷ (1 + 0.06)^4)
15000(1 ÷ 1.06^4)
15000(1 ÷ 1.26247696)
15000(0.7920936)
= $11,881.4
Answer:
The ending balance in the retained earnings account on December 31, 2009 was $11,000
Explanation:
For computing the retained earnings balance on December 31, 2009, the following equation should be used which is shown below:
= Ending retained earnings + dividend paid - net income
= $31,000 + $16,000 - $36,000
= $11,000
Since we have to find out the beginning retained earning so we add the dividend amount and deduct the net income amount
If we find out the ending balance of December 31, 2010, than we add the net income and deduct the dividend amount.
Hence, the ending balance in the retained earnings account on December 31, 2009, was $11,000
Answer:
Sixty days
Example:
That a specified paid-up nonforfeiture benefit shall become effective as specified in the policy unless the person entitled to make such election elects another available option not later than sixty days after the due date of the premium in default.planation:
In any business, when the cost of resources rise, the price of buying the commodity will also be high, this is because when it cost you much to produce a commodity, you will end up charging a higher price when selling it. Failure to do so may lead to making loses. The opposite is also true, when the cost of resources fall, the pricing will also be less.